Waterstone Financial, Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K reports on the results of the 2023 Annual Meeting of Shareholders held on May 16, 2023. The filing covers corporate governance matters submitted to a vote by security holders.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on shareholder voting outcomes.
Material Changes and Voting Results
Shareholders voted on three proposals with 21,929,777 outstanding shares eligible to vote as of the March 22, 2023 record date.
- Proposal 1 (Election of Directors): Three nominees were elected to serve until 2026.
- Michael Hansen: 13,916,792 For; 1,772,480 Withheld.
- Stephen Schmidt: 11,952,225 For; 3,737,017 Withheld.
- Derek Tyus: 15,195,029 For; 494,213 Withheld.
- Proposal 2 (Ratification of Auditors): Forvis, LLP was ratified as the independent registered public accounting firm.
- For: 18,637,873
- Against: 205,514
- Abstain: 15,037
- Proposal 3 (Executive Compensation): The advisory vote to approve named executive officer compensation was approved.
- For: 14,792,186
- Against: 801,248
- Abstain: 95,808
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the tenure of the newly elected directors (Michael Hansen, Stephen Schmidt, Derek Tyus) through 2026.
- Confirm the appointment of Forvis, LLP as the independent auditor for the fiscal year ending December 31, 2023.
- Note the level of shareholder support for executive compensation, with approximately 94.7% voting in favor.
- Review the "Withheld" votes for Stephen Schmidt, which were significantly higher than for the other nominees.